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Thoratec settles Oracle beef | Wall Street Beat

January 26, 2012 by MassDevice staff

Thoratec Corp. says it's settled a beef with activist investor group Oracle Investment Management over whether to sell the company; also, NuVasive jumps on legal ruling; Oridion releases Q4, 2011 prelims; AngioDynamics announces recall, updates guidance; cosmetic device market on the mend?; and analysts' ups and downs.

MassDevice.com Wall Street Beat

Thoratec Corp. (NSDQ:THOR) said it reached an agreement with one of its major institutional shareholders, Oracle Investment Management, over whether or not the heart pump maker should hire an investment bank to find a buyer.

Greenwich, Conn.-based Oracle, which holds a 5.2% stake in the heart pump maker, recommended that Thoratec retain an investment bank to explore strategic alternatives, including sale to a larger company.

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St. Jude Medical beats The Street, gets a little love

January 25, 2012 by MassDevice staff

St. Jude gained a few points on Wall Street by beating analysts' profit expectations for 2011 by a penny.

St. Jude Medical logo

St. Jude Medical (NYSE:STJ) got a little love from Wall Street after posting 2011 earnings results that beat analysts' forecasts by 1 cent.

The St. Paul, Minn.-based medical device maker posted $5.61 billion in sales for 2011, an 8.7% bump over $5.17 billion in 2010.

Non-adjusted earnings slid to $864 million, or $2.64 earned per diluted share, representing a 4.7% decrease from the $907 million, or $2.75 per diluted share, earned in 2010.

MassDevice.com +3 | The top 3 med-tech stories for January 24, 2012.

January 24, 2012 by MassDevice staff

St. Jude wins a $27 million patent decision against Access Closure, Mela Sciences ramps up for commercial launch of its MelaFind system and Medtronic enrolls the first patient into its Fire & Ice ablation study.

Plus 3

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St. Jude lands $27 million in patent win against Access Closure

January 24, 2012 by MassDevice staff

A federal judge rules in St. Jude Medical's favor that Access Closure wilfully infringed on 4 patent claims for artery closure devices.

Updated 1/23/2012 at 12:00 p.m. with comment from St. Jude Medical.

St. Jude Medical logo
Access Closure logo

St. Jude Medical (NYSE:STJ) won $27.1 million in a patent infringement decision against Access Closure Inc. over technologies used to close holes in arteries.

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MassDevice.com +3 | The top 3 med-tech stories for January 23, 2012

January 23, 2012 by MassDevice staff

St. Jude responds to a summit on the recall of its Riata defibrillator leads, Boston Scientific fights the hype on deformation concerns on its thinner stents and Covidien announces a new head for its $1.4 billion global vascular therapies business.

Plus 3

Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com's coverage highlights our 3 biggest and most influential stories from the day's news to make sure you're up to date on the headlines that continue to shape the medical device industry.

If you read nothing else today, make sure you're still in the know with MassDevice +3.

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UPDATE: St. Jude responds to Riata summit

January 23, 2012 by MassDevice staff

Analysts warned against reading too much into poll results from a 1-day conference of cardiovascular leaders on the recall of St. Jude Medical's Riata defibrillator leads, as the company looks to limit the collateral damage to its Durata lead.

Riata leads

Analysts warned against reading too much into poll results from a 1-day conference of cardiovascular leaders, in which more than half said the ongoing recall of St. Jude Medical's (NYSE:STJ) Riata defibrillator leads is a more serious issue than Medtronic's (NYSE:MDT) high-profile pullback of the Sprint Fidelis pacemaker lead.

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Riata recall more worrisome than Sprint Fidelis?

January 23, 2012 by MassDevice staff

Nearly 60% of cardiovascular leaders polled following a 1-day huddle over how best to manage the recall of St. Jude Medical's Riata defibrillator lead worry that the Riata recall poses more risk than Medtronic's high-profile recall of the Sprint Fidelis lead.

Riata leads

At the conclusion of a 1-day conference of cardiovascular leaders, more than half walked away feeling that the ongoing recall of St. Jude Medical's (NYSE:STJ) Riata defibrillator leads is a more serious issue than Medtronic's (NYSE:MDT) high-profile pullback of the Sprint Fidelis pacemaker lead.

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